Ferrex Secures 85% of the Significant Neyega Manganese Exploration Permit in Togo

Mineweb reported that Ferrex plc (LSE:FRX) has completed an 85% acquisition of a Togo manganese deposit.

As quoted in the market news:

Ferrex will fund, through interest free shareholder loans, the entire project to the bankable feasibility stage and will pay a one off fee to the project introducer of £100,000.  This fee will be used to subscribe for 2,500,000 shares in Ferrex at 4p per share.

Click here to read the full Mineweb report.